The Final Chapter: Vista Outdoor’s Corporate Dissolution Complete

The multi-year strategic overhaul of Vista Outdoor has reached its conclusion, resulting in the complete dissolution of the once-unified corporation. Through a series of divestitures and acquisitions, the company's core operations have been fully transferred to new ownership structures. This move signifies the definitive end for the former industry leader in the outdoor products and shooting sports markets.

Vista Outdoor's comprehensive restructuring unfolded through two distinct, major transactions. The process culminated in January 2025, marking the final point of a deep portfolio rationalization that began with a strategic review aimed at optimizing its business mix and unlocking shareholder value.

The first phase saw the completion of the sale of its shooting sports segment, known as The Kinetic Group, to the Czechoslovak Group (CSG) in November 2024. This transaction provided the company with cash proceeds.

Concurrently, the corporation executed a spin-off of its outdoor products division into a separate, publicly traded entity named Revelyst. Shares of Revelyst commenced trading on the New York Stock Exchange in November 2024 under the ticker symbol "GEAR." This independence proved short-lived, however, as financial investor Strategic Value Partners (SVP) acquired the company in an all-cash deal in January 2025.

Should investors sell immediately? Or is it worth buying Vista Outdoor?

Outcomes for Shareholders

For investors holding Vista Outdoor stock prior to these transactions, the process resulted in a multi-stage conversion of their holdings. As part of the CSG deal, shareholders received a cash payment of $25.75 per share, along with one share of the newly spun-off Revelyst for each Vista Outdoor share they owned.

The subsequent acquisition of Revelyst by SVP then converted this equity stake into cash as well. Consequently, the original investment positions held by shareholders were fully liquidated. The operational businesses of the former subsidiaries continue under their new owners, CSG and SVP, while the publicly traded entity VSTO has disappeared from the exchange as an integrated company.

• The Kinetic Group Sale: Transferred to the Czech-based CSG group for cash consideration.
• The Revelyst Spin-off: Briefly operated as a standalone public company before being acquired by a financial sponsor.
• Shareholder Exit: Former equity holders received a combination of cash distributions and new stock, which was ultimately also cashed out.

While the original investment thesis for Vista Outdoor has concluded, the company's former brands continue to operate in a market environment increasingly characterized by consolidation and regulatory shifts. The complete winding-up of the corporate structure finalizes this significant chapter.